IMF Staff Concludes virtual Visit to Zimbabwe.

The International Monetary Fund (IMF) through a Staff Team led by the Zimbabwe Mission Chief, Daneshwar Ghura recently concluded a virtual visit to the Country on the 15th of June 2021 where they were discussing recent economic developments and the economic outlook.

 

At the close of the Visit, the Mission Chief, Mr. Ghura issued the following statement: “Zimbabwe has shown resilience in the face of the COVID-19 pandemic and other exogenous shocks. The pandemic, on top of cyclone Idai in 2019, a protracted drought, and weak policy buffers, has taken a severe toll on the economic and humanitarian situation. Despite the authorities’ timely actions to support the most vulnerable groups and businesses during the pandemic, real GDP contracted by 4 percent in 2020, after a 6 percent decline in 2019. However, an economic recovery is underway in 2021, with real GDP expected to grow by about 6 percent, reflecting a bumper agricultural output, increased energy production, and the resumption of greater manufacturing and construction activities. Uncertainty remains high, however, and the outlook will depend on the pandemic’s evolution, the pace of vaccination and implementation of sustainable policies".